AEA Unveils 2020 Year-End Avionics Market Report
The Aircraft Electronics Association released its 2020 year-end Avionics Market Report, and total worldwide business and general aviation avionics sales for the year amounted to $2,223,729,327, or more than $2.2 billion as reported by the participating companies.
The dollar amount represented a 26% decrease in total year-end sales compared to 2019, which set a record-high total that topped $3 billion. It also marked the lowest amount of sales in the report’s nine-year history. During the fourth-quarter months of October, November and December, sales decreased 28.1% compared to the same time frame one year ago.
However, since COVID-19 began to negatively impact industry-wide sales near the end of the first quarter of 2020, the industry experienced healthy sales growth during the last six months of the year. For example, after total sales bottomed out in the second quarter of 2020, third-quarter sales increased 5.9% with retrofit sales up 10.8% compared to the second quarter. That upward trend continued with fourth-quarter sales increasing another 8.5% with retrofit sales up 15.3% compared to the third quarter.